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January 9, 2004 It does seem to create an interesting catch-22 situation, however, as these latest Statistics Canada figures pushed the loonie to 78.71 cents US as of 10:30 this morning. The rapid rise of the Canadian dollar of course continues to put Canadian exporters in a compromising position, creating the possibility of continued layoffs in the manufacturing sector. This is particularly concerning, as US factory production hit a 20-year high in the month of December. It is transparently clear that a pledged relinquishment of a portion of the gas tax to municipalities is now an idea dead in its tracks. The time is now for cities to start setting the parameters of the debate, and putting propositions forward for alternative funding arrangements. Comments? jonathan@tdhstrategies.com |
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